Tilray Brands (NASDAQ:TLRY) Shares Up 3.3% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 3.3% during mid-day trading on Tuesday . The company traded as high as $6.72 and last traded at $6.66. Approximately 1,597,170 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 3,713,671 shares. The stock had previously closed at $6.45.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research note on Tuesday, January 27th. They set a “hold” rating on the stock. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.33.

Tilray Brands Trading Up 3.3%

The company has a 50 day moving average price of $7.77 and a 200 day moving average price of $10.48. The firm has a market cap of $775.96 million, a price-to-earnings ratio of -0.30 and a beta of 1.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. The business had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the prior year, the business posted ($0.03) EPS. On average, research analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after acquiring an additional 575,757 shares during the last quarter. Swiss National Bank increased its holdings in Tilray Brands by 6.1% in the 2nd quarter. Swiss National Bank now owns 1,928,138 shares of the company’s stock valued at $799,000 after purchasing an additional 111,500 shares during the last quarter. XTX Topco Ltd purchased a new stake in Tilray Brands in the second quarter valued at approximately $112,000. J.W. Cole Advisors Inc. raised its position in Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after purchasing an additional 48,177 shares during the period. Finally, Cerity Partners LLC lifted its stake in Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after purchasing an additional 45,929 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.